The latest update is out from Scentre Group ( (AU:SCG) ).
Scentre Group reported a 3.5% increase in Funds From Operations (FFO) to $1,132 million for the year ending December 2024, alongside a 3.8% rise in distributions. Despite challenges, including a tragic attack at Westfield Bondi, the company saw a record $29 billion in sales and increased customer visits. The Group is advancing a $4 billion development pipeline, enhancing security measures, and expanding its Westfield destinations. Strategic initiatives include capital management improvements and joint ventures, positioning Scentre Group for long-term growth and increased housing supply opportunities.
More about Scentre Group
Scentre Group operates in the retail real estate industry, primarily focusing on managing and developing Westfield shopping centers across Australia and New Zealand. The company is known for creating vibrant retail destinations that serve as community hubs, offering a mix of shopping, dining, and entertainment options.
YTD Price Performance: 11.22%
Average Trading Volume: 8,105
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $11.96B
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